Samsung predicts record high $12.1 billion profit for Q2 2017

09 July, 2017, 00:25 | Author: Darnell Patrick
  • Samsung to invest $18 billion in memory chip business

"Final June sales for our Apple Monitor rose by 18% month-over-month and well above the average decline of 2% over the past twelve years".

Some optimistic researchers predict Samsung, the world's second-largest chipmaker and No. 1 producer of memory chips, might surpass the industry's top player, Intel, in revenue this year for the first time.

Just like LG, Samsung has also announced its earnings guidance for the second quarter of 2017.

Samsung said earlier this week that it plans to invest $18.6 billion in semiconductor and display production facilities.

Samsung would sell about 49 million S8s by the end of its first full-year release, in line with first-year sales of the Galaxy S7, he said.

Rising memory chip prices, driven by strong demand from servers and mobile, have likely contributed to Samsung's strong results-the company hasn't provided many details at this point.


"Rivals have failed to capitalise on the Note7 debacle while Samsung has been raking in profits from semiconductors and displays", Eugene Investment and Securities analyst Lee Seung Woo said before the results. But there are expectations that the total profit for the July- September quarter would cross beyond $13.8 trillion.

But the firm managed to post stellar profits partly thanks to the robust chip business, which supplies not only to its own handset unit but also other electronics giants including Apple.

The S8's performance has reassured investors whose nerves were shaken a year ago by the costly withdrawal of Samsung's premium Galaxy Note 7 due to fire-prone batteries.

Samsung's financial performance comes after a rocky year for the South Korean conglomerate. (NASDAQ:AAPL) as the most profitable smartphone company in Q2 2017.

Samsung shares, the top weighting in the iShares MSCI Emerging Markets exchange-traded fund (EEM), moved fractionally lower in local trading, but was up 4% in us over-the-counter trading.

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